Kenya: CEO Bob Collymore, who built Safaricom into $11 billion telco, dies of cancer

Reuters | Bob Collymore, the chief executive who helped to turn wireless company Safaricom, into East Africa’s most profitable company with an US$11 billion valuation, has died after a nearly 2-year long battle with cancer.

Collymore, who took the top job with the Kenyan company in 2010, oversaw an increase of nearly 500 percent in its share value thanks to the popular mobile money transfer service M-Pesa and a growing customer base.

Collymore, who was 61, had agreed in May to serve another year in the role after the Kenyan government, which owns 35 percent of the company, insisted that a local was picked to succeed him, complicating the hiring process.

The board will meet on Monday to discuss his succession, Chairman Nicholas Ng’ang’a said.

“The board was aware that sooner or later we needed to organize succession for Bob,” he told a news conference. “We will be giving a way forward hopefully later today or in the next 24 hours.”

President Uhuru Kenyatta, who worked with Collymore on a joint government and private sector initiative to draw up anti-corruption strategies, mourned his passing.

“We have lost a distinguished corporate leader whose contribution to our national wellbeing will be missed,” the president said in a statement.

Employees at the company also spoke warmly of Collymore, praising his friendly personality and care for their welfare.